Businessman Raj Kundra, husband of Bollywood actress Shilpa Shetty, has been formally chargesheeted by the Enforcement Directorate (ED) in a ₹150.47 crore bitcoin-related money laundering case. The ED alleged that Kundra possessed 285 bitcoins received from the late crypto scam promoter Amit Bhardwaj and was the beneficial owner, contradicting his claim that he acted only as a “mediator” in the transactions.
The chargesheet was filed before a special court under the Prevention of Money Laundering Act (PMLA). According to the ED, Kundra deliberately concealed critical evidence, including bitcoin wallet addresses, and failed to surrender the digital assets obtained from Bhardwaj. Kundra allegedly even transferred some of the bitcoins to Shilpa Shetty at “far below market value” to hide the origin of the funds, attempting to present the money as legitimate.
The case follows FIRs registered by Maharashtra and Delhi police against Variable Tech Private Limited, Amit Bhardwaj, his family members, and other promoters of Gain Bitcoin, a Ponzi scheme that promised huge returns on crypto mining but cheated investors. Kundra had reportedly received 285 bitcoins intended for a bitcoin mining farm in Ukraine, but the deal never materialized, leaving him in possession of the high-value digital assets.
The ED noted that Kundra remembers the exact number of bitcoins received in five tranches over seven years, reinforcing his status as a beneficial owner rather than a mediator. Despite repeated opportunities, he has not provided wallet addresses, citing a damaged iPhone as the reason, which the agency considers an attempt to hide evidence.
In addition to the bitcoin case, Kundra and Shilpa Shetty are under investigation in another ₹60.4 crore cheating case involving a loan-cum-investment deal through their now-defunct company, Best Deal TV Pvt Ltd.
